Are Smart Investors Making the Right Decision? Canadian Imperial Bank of Commerce (CM)

Canadian Imperial Bank of Commerce (NYSE: CM) stock fell -0.73% on Friday to $46.07 against a previous-day closing price of $46.41. With 1.95 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.82 million shares. During the session, the Banks – Diversified company that operates in wider Financial sector, reached to the highest price of $46.69 whereas the lowest price it dropped to was $45.86. The 52-week range on CM shows that it touched its highest point at $66.24 and its lowest point at $45.09 during that stretch. It currently has a 1-year price target of $56.46. With its current market cap of 42.49 billion, CM has annualized dividend of $2.57 while the current yield stands at 5.58%. Beta for the stock currently stands at 1.02.

Top 5 Tech Stocks Every Investor Should Buy Right Now

While finding excellent stocks with the potential for gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Tech Stocks Every Investor Should Buy Right Now", we have identified five tech stocks we believe could appreciate.

Sign up here to get your free report now.

Sponsored

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CM was down-trending over the past week, with a drop of -4.99%, but this was down by -10.40% over a month. Three-month performance dropped to -3.98% while six-month performance fell -27.21%. The stock lost -18.16% in the past year, while it has lost -20.95% so far this year. A look at the trailing 12-month EPS for CM yields 5.26 with Next year EPS estimates of 7.58. For the next quarter, that number is 1.79. This implies an EPS growth rate of 69.40% for this year and 1.79% for next year. EPS is expected to grow by 4.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 5.40%.


Float and Shares Shorts:

At present, 903.74 million CM shares are outstanding with a float of 901.44 million shares on hand for trading. On Jul 14, 2022, short shares totaled 22.9 million, which was 2.53% higher than short shares on Jun 14, 2022. In addition to Mr. Victor G. Dodig as the firm’s Pres, CEO & Director, Mr. Hratch Panossian serves as its Sr. EVP, CFO and Head of Enterprise Strategy.

Institutional Ownership:

Through their ownership of 53.37% of CM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 28.05% of CM, in contrast to 19.84% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in CM with 5.62% of the stake, RBC Global Asset Management, Inc. holds 50,709,004 shares worth 50,709,004. A second-largest stockholder of CM, TD Asset Management, Inc., holds 42,866,389 shares, controlling over 4.75% of the firm’s shares. 1832 Asset Management LP is the third largest shareholder in CM, holding 38,809,097 shares or 4.30% stake. With a 1.29% stake in CM, the Vanguard Total International Stoc is the largest stakeholder. A total of 11,605,650 shares are owned by the mutual fund manager. The RBC Canadian Dividend Fund, which owns about 0.99% of CM stock, is the second-largest Mutual Fund holder. It holds 8,919,071 shares valued at 421.96 million. TD Dividend Growth Fund holds 0.91% of the stake in CM, owning 8,219,895 shares worth 388.88 million.


Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CM since 6 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CM analysts setting a high price target of $83.00 and a low target of $56.00, the average target price over the next 12 months is $65.42. Based on these targets, CM could surge 80.16% to reach the target high and rise by 21.55% to reach the target low. Reaching the average price target will result in a growth of 42.0% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CM will report FY 2022 earnings on 12/01/2022. Analysts have provided yearly estimates in a range of $5.77 being high and $5.62 being low. For CM, this leads to a yearly average estimate of $5.71. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Canadian Imperial Bank of Commerce surprised analysts by $0.01 when it reported $1.43 EPS against a consensus estimate of $1.42. The surprise factor in the prior quarter was -$0.00. Based on analyst estimates, the high estimate for the next quarter is $1.40 and the low estimate is $1.34. The average estimate for the next quarter is thus $1.37.

Leave a Comment

Your email address will not be published.

[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]
[class^="wpforms-"]